By Sheri Kasprzak
New York, March 17 - DNAprint, Inc. said it has closed a $1.5 million private placement of a promissory note for proceeds of $1.2 million with Dutchess Private Equities Fund, LP.
The zero-coupon note, priced at 80, is due March 6, 2007.
The note will be repaid using 100% of the proceeds from each put under a $35 million equity line it received from Dutchess in September 2004.
Along with the note, Dutchess purchased a $330,000 zero-coupon convertible debenture due March 6, 2011.
The debenture is convertible into common shares at $0.01 each.
Based in Sarasota, Fla., DNAprint develops genomics-based therapies and diagnostic products.
| Issuer: | DNAprint, Inc.
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| Issue: | Promissory note
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| Amount: | $1.5 million
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| Proceeds: | $1.2 million
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| Maturity: | March 6, 2007
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| Coupon: | 0%
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| Price: | 80
|
| Warrants: | No
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| Investor: | Dutchess Private Equities Fund, LP
|
| Settlement date: | March 13
|
| Stock symbol: | OTCBB: DNAG
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| Stock price: | $0.03 at close March 13
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